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Six oil firms raise P2 per liter prices of diesel, gasoline and kerosene |
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07.30.2009 |
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MANILA:(Asia Pulse Data Source via COMTEX)Reflecting an increase in the international prices, six oil companies implemented P2 per liter price hikes in their gasoline, diesel and kerosene.
Pilipinas Shell Petroleum Corp., Petron Corp., Chevron Philippines, Total Philippines and independent oil player Seaoil Philippines all adjusted their petroleum products as early as 6 a.m. Tuesday.
On the other hand, Thailand-based PTT Philippines implemented a much lower price adjustment for its diesel and gasoline by P1.50 per liter which will take effect 12:01 a.m. of Wednesday.
Monitoring conducted by the Energy department indicated that as of July 23, Dubai crude dropped to US$ 63 per barrel or US$ 5 lower than the June average price of US$ 69 per barrel.
Unleaded gasoline and diesel both dropped by US$ 6 per barrel, or from US$ 77 per barrel to $ 71 per barrel in June.
Currently, gasoline is sold between P33 to P39.90 per liter; diesel at P24 to P31.15 per liter; and kerosene at P33.50 to P39.31 per liter.
Last week, oil companies implemented a rollback of 25 centavos per liter for gasoline and 50 centavos per liter for both diesel and kerosene.
Independent oil player Unioil Petroleum Philippines Inc., (UPPI) also implemented a big time rollback of P4.75 per liter for gasoline and P3.50 per liter for diesel.
However, the implementation of the big time rollback by Unioil resulted in controversy prompting the DoE to call for a stakeholders meeting.
During the meeting held at the Department of Energy, the oil companies lambasted Unioil executives for misleading the public that it reduced its prices by over P4 and P3 per liter for gasoline diesel and kerosene, respectively.
Roberto Kanapi, Shell?s vice president for communications, said of the 16 stations of Unioil, only one station implemented the big time rollback.
?Unioil did not rollback as announced and in 16 sites only one site rollback [prices of petroleum products],? Kanapi said earlier.
Eric Recto, president of Petron, shared Kanapi?s sentiment saying ?the numbers that have been announced [by Unioul] do not reflect the reality.?
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Source:www.tradingmarkets.com |
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